This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 3099067.

CubeSmart Buys 3 Self-Storage Facilities in Palm Beach County, FL

CubeSmart, a self-storage real estate investment trust, recently acquired three self-storage facilities in Palm Beach County, Fla., for a combined total of $35 million. The facilities were purchased from companies led by Bruce D. Manley of Blue Bell, Pa., according to the source. Manley owned the facilities for six years and sold them at a 71 percent premium to their combined purchase price, the source reported.

CubeSmart paid $15 million to Storage Partners of Delray East, $11 million to Storage Partners of Royal Palm and $9 million to Storage Partners of Boynton.

CubeSmart owns or manages 545 self-storage facilities across the United States and operates the CubeSmart Network, which consists of more than 800 additional self-storage facilities. Since 2012, the company has acquired 24 properties in South Florida, the source reported.